This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Medco Launches Medical Benefit Management Program To Better Manage Specialty Drug Spending, Coverage Needs

FRANKLIN LAKES, N.J., Feb. 13, 2012 /PRNewswire/ -- Expensive specialty drugs, which are used to treat rare or complex medical conditions, have been one of the fastest growing categories in health care for nearly a decade, as price inflation and higher utilization continue to increase costs.  Medco Health Solutions, Inc. (NYSE:MHS), has introduced a new medical benefit management program to better manage specialty medications covered under major medical plans by bringing greater efficiencies around the coverage of these drugs.

(Logo: )

Medco and its subsidiary Accredo Health Group, Inc. have successfully assisted numerous clients in shifting coverage of specialty drugs to the pharmacy benefit to gain a better handle on their costs.  With medical benefit management, Medco will now provide greater cost transparency to health plans and employers that wish to continue coverage of specialty drugs under their medical plans.

"We developed this program in order to extend the best practices in specialty pharmacy to major medical coverage," said Frank Sheehy, president of Accredo.  "Historically, health insurers and other payors have not focused on the prevention of waste or the management of specialty drugs that fall within the medical benefit.  This has cost them an estimated $8 billion annually from lack of compliance, over-utilization, non-formulary drug use and other inefficiencies.  We are offering to reduce an administrative burden for health plan sponsors, while also providing an elevated standard of care."

Medco is implementing the new product in partnership with NovoLogix, Inc, an established industry leader in the management of specialty medications within the medical benefit. NovoLogix's software, which has been used to manage medical specialty for over 18 million patients, will provide the infrastructure inside Medco's medical benefit management program.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,821.38 +101.46 0.57%
S&P 500 2,091.28 +10.87 0.52%
NASDAQ 5,130.8320 +22.1660 0.43%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs